Shares of Meridian Bancorp Inc (NASDAQ:EBSB) have earned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating. Meridian Bancorp’s rating score has improved by 66.7% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a one year consensus price target of $20.00 for the company and are predicting that the company will post $0.31 EPS for the current quarter, according to Zacks. Zacks has also given Meridian Bancorp an industry rank of 160 out of 256 based on the ratings given to its competitors.
Several equities research analysts have recently commented on EBSB shares. BidaskClub raised Zebra Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 6th. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. Finally, Piper Jaffray Companies set a $8.00 target price on Ocular Therapeutix and gave the company a “buy” rating in a research note on Tuesday, July 2nd.
Meridian Bancorp (NASDAQ:EBSB) last released its earnings results on Tuesday, April 23rd. The savings and loans company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The company had revenue of $46.43 million during the quarter, compared to analysts’ expectations of $46.00 million. Meridian Bancorp had a return on equity of 8.70% and a net margin of 23.48%. On average, sell-side analysts forecast that Meridian Bancorp will post 1.28 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th were paid a $0.07 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.28 annualized dividend and a dividend yield of 1.47%. Meridian Bancorp’s dividend payout ratio (DPR) is currently 26.42%.
Several institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers raised its holdings in Meridian Bancorp by 48.3% in the fourth quarter. Rhumbline Advisers now owns 69,029 shares of the savings and loans company’s stock valued at $988,000 after acquiring an additional 22,473 shares in the last quarter. Prudential Financial Inc. raised its holdings in Meridian Bancorp by 9.0% in the fourth quarter. Prudential Financial Inc. now owns 11,440 shares of the savings and loans company’s stock valued at $164,000 after acquiring an additional 945 shares in the last quarter. California Public Employees Retirement System raised its holdings in Meridian Bancorp by 63.0% in the fourth quarter. California Public Employees Retirement System now owns 51,731 shares of the savings and loans company’s stock valued at $741,000 after acquiring an additional 19,996 shares in the last quarter. BlackRock Inc. raised its holdings in Meridian Bancorp by 8.3% in the fourth quarter. BlackRock Inc. now owns 4,063,915 shares of the savings and loans company’s stock valued at $58,195,000 after acquiring an additional 310,533 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Meridian Bancorp by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 287,351 shares of the savings and loans company’s stock valued at $4,115,000 after acquiring an additional 8,966 shares in the last quarter. 65.37% of the stock is owned by institutional investors and hedge funds.
Meridian Bancorp Company Profile
Meridian Bancorp, Inc operates as the holding company for East Boston Savings Bank that provides various financial products and services for individuals and businesses primarily in Suffolk, Norfolk, Middlesex and Essex Counties, Massachusetts. The company accepts various deposit products, including non-interest-bearing demand deposits, such as checking accounts; interest-bearing demand accounts comprising NOW and money market accounts; savings accounts; and certificates of deposits, as well as commercial checking accounts.
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